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Problem 7-28 Nonconstant Growth (LO2) Planned Obsolescence has a product that will be in vogue for 3 years, at which point the firm will close

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Problem 7-28 Nonconstant Growth (LO2) Planned Obsolescence has a product that will be in vogue for 3 years, at which point the firm will close up shop and liquidate the assets. As a result, forecast dividends are DIV1 $8.50, DIV2 $9.00, and DIV3 $24.50 What is the stock price if the discount rate is 11%? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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